AxoGen (NASDAQ:AXGN) Downgraded to “Hold” at StockNews.com

AxoGen (NASDAQ:AXGN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $12.00 price objective on shares of AxoGen in a report on Friday, January 19th.

AxoGen Stock Performance

AxoGen stock traded down $0.12 during trading hours on Monday, reaching $5.67. 472,285 shares of the stock were exchanged, compared to its average volume of 400,912. The stock has a market cap of $247.84 million, a P/E ratio of -11.34 and a beta of 1.07. The firm’s 50 day moving average is $7.76 and its 200 day moving average is $7.49. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.23 and a current ratio of 3.43. AxoGen has a 52-week low of $3.45 and a 52-week high of $10.83.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Tuesday, March 5th. The medical equipment provider reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.11. AxoGen had a negative net margin of 12.99% and a negative return on equity of 22.18%. The firm had revenue of $42.92 million during the quarter, compared to the consensus estimate of $42.70 million. Analysts predict that AxoGen will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling at AxoGen

In related news, CEO Karen L. Zaderej sold 39,280 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $7.68, for a total value of $301,670.40. Following the completion of the transaction, the chief executive officer now directly owns 1,124,565 shares of the company’s stock, valued at approximately $8,636,659.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Karen L. Zaderej sold 39,280 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $7.68, for a total value of $301,670.40. Following the sale, the chief executive officer now directly owns 1,124,565 shares in the company, valued at approximately $8,636,659.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Erick Wayne Devinney sold 4,578 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $7.68, for a total transaction of $35,159.04. Following the completion of the sale, the insider now directly owns 165,661 shares in the company, valued at $1,272,276.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,201 shares of company stock valued at $928,054. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tocqueville Asset Management L.P. boosted its stake in shares of AxoGen by 98.7% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 934,900 shares of the medical equipment provider’s stock worth $4,674,000 after purchasing an additional 464,500 shares during the last quarter. Rice Hall James & Associates LLC purchased a new position in shares of AxoGen during the first quarter valued at approximately $1,236,000. Panagora Asset Management Inc. boosted its position in AxoGen by 69.8% during the fourth quarter. Panagora Asset Management Inc. now owns 165,461 shares of the medical equipment provider’s stock worth $1,130,000 after acquiring an additional 68,001 shares during the last quarter. White Pine Capital LLC grew its stake in AxoGen by 127.1% in the 4th quarter. White Pine Capital LLC now owns 107,733 shares of the medical equipment provider’s stock worth $736,000 after acquiring an additional 60,300 shares during the period. Finally, Keeley Teton Advisors LLC raised its holdings in AxoGen by 135.3% in the 4th quarter. Keeley Teton Advisors LLC now owns 84,725 shares of the medical equipment provider’s stock valued at $579,000 after acquiring an additional 48,725 shares during the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Company Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company's products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.